Procida Funding & Advisors Provides $14.5M Loan For Multifamily Property In Northvale
FINANCED
$14,500,000
New Jersey
See Similar DealsMultiFamily1,682 SF
Financed 12/23/2020
FINANCED
Procida Funding & Advisors Provides $14.5M Loan For Multifamily Property In Northvale
99 Paris Avenue, Northvale, NJ, USA
See Similar DealsMultiFamily1,682 SF
Financed 12/23/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$8,620
Total Square Footage:1,682 SF
Transaction Type:Loan
Located at 99 Paris Avenue in Northvale, this multifamily property consists of 46 units. The transaction took place on December 23, 2020, and the loan amount involved was $14,500,000. The property is owned by Northvale Green LLC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,500,000
- Units: 46
- Address: 99 Paris Avenue
- Market: Northvale
The loan for this transaction was provided by Procida Funding & Advisors, with William Procida representing the lending agency. It is worth noting that Billy Procida's image was shared on Instagram in relation to this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,500,000.00
Monthly NOI$96,666.67
Monthly Debt Service$91,649.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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